so glad i bought at 1000

[BryanK]

Ok. So this is exactly how I figure it would happen. As soon as I buy, its going to go down...  I bought in at 1009. Bought 1.3 BTC ~ 1350 (after fees) With my trading experience I know that its best to keep buying as the stock falls to lower your average share cost.
So I am thinking here, Should I buy 1.3+btc to lower my average cost with the BTC price so low? Think it'll go back up?

[jamesc760]

please no, leave the coins for the more experienced people.

[CMMPro]

Ok. So this is exactly how I figure it would happen. As soon as I buy, its going to go down...  I bought in at 1009. Bought 1.3 BTC ~ 1350 (after fees) With my trading experience I know that its best to keep buying as the stock falls to lower your average share cost.
So I am thinking here, Should I buy 1.3+btc to lower my average cost with the BTC price so low? Think it'll go back up?

Don't beat yourself up...there were a lot of us that bought on the rise from $30-266 and I bought right up to something like $225.
I reached despair before anyone it seemed. By the time it hit $100 an hour later I was basically at a point where I had given up and said fuckit I'm perma holding even if it is the end of the road.

What I did next is what you are suggesting...buy more at the lowest prices possible to average down your purchase price.
Don't be afraid to hold a long time....it has always paid off in the long run in bitcoin.

In a half a year I'm 99% everyone will be reminiscing about the "Xmas Crash" of 2013...and the price will be $10k.

If you believe in the fundamentals of bitcoin....well they haven't changed. I'm quite sure that this 'news' from China is positive regardless of what the bears here have done to spin this negative and screw us all. Once everyone figures out that what China has done is imposed 'controls' similar to what we have here in Canada, it will be back to business as usual I'm sure.  
(And that's really what they have done, nothing different.)

Good luck! Chin up brother!




 

[BryanK]

Ok. So this is exactly how I figure it would happen. As soon as I buy, its going to go down...  I bought in at 1009. Bought 1.3 BTC ~ 1350 (after fees) With my trading experience I know that its best to keep buying as the stock falls to lower your average share cost.
So I am thinking here, Should I buy 1.3+btc to lower my average cost with the BTC price so low? Think it'll go back up?

Don't beat yourself up...there were a lot of us that bought on the rise from $30-266 and I bought right up to something like $225.
I reached despair before anyone it seemed. By the time it hit $100 an hour later I was basically at a point where I had given up and said fuckit I'm perma holding even if it is the end of the road.

What I did next is what you are suggesting...buy more at the lowest prices possible to average down your purchase price.
Don't be afraid to hold a long time....it has always paid off in the long run in bitcoin.

In a half a year I'm 99% everyone will be reminiscing about the "Xmas Crash" of 2013...and the price will be $10k.

If you believe in the fundamentals of bitcoin....well they haven't changed. I'm quite sure that this 'news' from China is positive regardless of what the bears here have done to spin this negative and screw us all. Once everyone figures out that what China has done is imposed 'controls' similar to what we have here in Canada, it will be back to business as usual I'm sure.  
(And that's really what they have done, nothing different.)

Good luck! Chin up brother!




 

Thanks CMMPro - I respect your thoughts and appreciate the time you took. I'm a holding

[lightfoot]

Honest answer? You now own 1.3 bitcoins. That's kind of cool, might want to buy a few more as the price goes down, but don't bet more than you can afford to lose.

Myself, I have 2 now from mining and my miner will just putter away. I'm buying mining equipment in bitcoins, so it doesn't matter if the price goes "up" or "down", it simply is.

C

[newtothescene]

If you invested with money you can afford to lose, then the best strategy is to hold long term and wait it out.  The monthly service fee is much lower than my 401k Plan is

My 2 cents.

[Money Raccoon]

Well people believe prices will swing from about $600 low to $800 so...

If you managed to get $1350 worth @ about $600 you'd get 2.25 BTC

2.25 + 1.3 = 3.55BTC

$2700/3.55 = $760 a coin

If you waited for an upswing you could sell for $800 and land yourself a little profit.

Least you wouldn't have lost anything and you'd have recovered bravely 

[CMMPro]

Don't go chasing falling knives though....and only put in what you are comfortable with.

Actually I like to invest just a little more than I'm comfortable with, but not enough that failure means jumping off an overpass.
I think if you lose it should be painful, just not fatal.

The price will come back up only after everyone is done worrying about it.

 

[BryanK]

Don't go chasing falling knives though....and only put in what you are comfortable with.

Actually I like to invest just a little more than I'm comfortable with, but not enough that failure means jumping off an overpass.
I think if you lose it should be painful, just not fatal.

The price will come back up only after everyone is done worrying about it.

 

much agreed. Id like to lower my avg cost just a little so ill be buying some. Just deciding when. Ill watch the charts and look for a bounce.

[LostDutchman]

Ok. So this is exactly how I figure it would happen. As soon as I buy, its going to go down...  I bought in at 1009. Bought 1.3 BTC ~ 1350 (after fees) With my trading experience I know that its best to keep buying as the stock falls to lower your average share cost.
So I am thinking here, Should I buy 1.3+btc to lower my average cost with the BTC price so low? Think it'll go back up?

Don't beat yourself up...there were a lot of us that bought on the rise from $30-266 and I bought right up to something like $225.
I reached despair before anyone it seemed. By the time it hit $100 an hour later I was basically at a point where I had given up and said fuckit I'm perma holding even if it is the end of the road.

What I did next is what you are suggesting...buy more at the lowest prices possible to average down your purchase price.
Don't be afraid to hold a long time....it has always paid off in the long run in bitcoin.

In a half a year I'm 99% everyone will be reminiscing about the "Xmas Crash" of 2013...and the price will be $10k.

If you believe in the fundamentals of bitcoin....well they haven't changed. I'm quite sure that this 'news' from China is positive regardless of what the bears here have done to spin this negative and screw us all. Once everyone figures out that what China has done is imposed 'controls' similar to what we have here in Canada, it will be back to business as usual I'm sure.  
(And that's really what they have done, nothing different.)

Good luck! Chin up brother!




 

Could well be and not bad advice!

My $.02.

[freebird]

Ok. So this is exactly how I figure it would happen. As soon as I buy, its going to go down...  I bought in at 1009. Bought 1.3 BTC ~ 1350 (after fees) With my trading experience I know that its best to keep buying as the stock falls to lower your average share cost.
So I am thinking here, Should I buy 1.3+btc to lower my average cost with the BTC price so low? Think it'll go back up?

Yes. If I were you, I'd average in over a period of the next couple weeks. It should hit rock bottom within that time, and you'd get decent prices to compensate for buying high the first time around. And then hold for at least a year. I'd be very surprised if a bitcoin is worth less a year from now than it is now.

[lightfoot]

That's actually kind of true, when the stock market imploded in 2008 I was too lame to sell anything so I just kept putting money in as usual because I was too depressed to change the allocations.

Made a lot. of. money. on that fail.

C

[Elwar]

Buy 1.8 more bitcoins at any price.

Put the 2.1 bitcoins into as cold a storage device as you can come up with. Know that there will never be more than 10 million people with more money than you.

Use the other bitcoin to spend as needed.

[Anon136]

normally i would advise against doubling down on financial blunders but bitcoin is different. if its money that you can afford to lose than yes, double-down and if the price falls significantly again than quad-ripple-down. when ever you start to doubt the fundamentals just re read this article http://www.huffingtonpost.com/2013/04/04/ton-gold-bullion-hidden-car-switzerland-border_n_3017140.html

[beetcoin]

i sold .5 btc at $240 and rebought at $800.. which means i made $120, and then turned around and bought the same amount i sold for $400.. so i ended up losing $280. i was the fool, but i'm' glad i didn't bet big when i sold at $240.

the point is that a lot of people made mistakes, but there's not point in beating yourself up over it. i know it's hard to know what to do, especially at this point in time 

[bitcon]

dont feel bad, i sold 30,000 btc @ 140. patience is a virtue

[windjc]

dont feel bad, i sold 30,000 btc @ 140. patience is a virtue

Well, you made 4.2 million minus your initial investment which was probably small. And you have some bitcoin left I presume?

Not all bad.

[smoothie]

Remember all the people who bought at $31 in 2011?

Remember all the people who bought at $266 in April 2013?

[pand70]

I can't see the part that you are glad that you bought at 1000$.
I mean you jumped on the wagon so gj anyway but still...

[BryanK]

I can't see the part that you are glad that you bought at 1000$.
I mean you jumped on the wagon so gj anyway but still...

#sarcasm